Venmo credit card users can convert their rewards back into cryptocurrency


Most credit cards these days offer some sort of reward to customers, whether it’s a percentage of your spending in cash, airline miles, or some other benefits. Venmo launched its own credit card this fall, and although it offers up to a three percent refund, the company now allows customers to do something relatively unique with that refund. As of today, Venmo credit card users can automatically return that money in cryptocurrency.

After joining, you can choose one of four cryptocurrencies to buy with a cash refund: Bitcoin, Ethereum, Litecoin and Bitcoin Cash. There are no transaction fees for the purchase, and the transfer happens automatically. From there, you can convert crypto to cash at any time or change the currency you receive monthly from your cash back.

This feature builds on the cryptocurrency features that Venmo has added to its application earlier this year. Venma users have been able to buy those same four cryptocurrencies directly in the app since April, so the feature to easily convert cash to crypto could make it easier for more people to dip their fingers into the world of bitcoin.

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